WhiteFiber (NASDAQ:WYFI) Shares Down 5.6% - Here's Why

Key Points

• WhiteFiber, Inc. (NASDAQ:WYFI) shares fell by 5.6%, trading around $31.81, with a significant drop in trading volume, down 37% from its average.
• Recent analyst reports show a mix of opinions on WhiteFiber, with six analysts rating it as a Buy and one as a Sell, while price targets range from $25.00 to $34.00.
• The company's focus is on artificial intelligence infrastructure solutions and high-performance computing data centers, targeting AI and machine learning developers.

WhiteFiber, Inc. (NASDAQ:WYFI - Get Free Report) dropped 5.6% during mid-day trading on Friday . The stock traded as low as $31.68 and last traded at $31.81. Approximately 764,256 shares traded hands during trading, a decline of 37% from the average daily volume of 1,221,555 shares. The stock had previously closed at $33.68.

Wall Street Analyst Weigh In

WYFI has been the topic of several recent analyst reports. Craig Hallum initiated coverage on WhiteFiber in a report on Tuesday, September 2nd. They set a "buy" rating and a $25.00 price objective on the stock. HC Wainwright initiated coverage on WhiteFiber in a report on Wednesday. They set a "buy" rating and a $34.00 price objective on the stock. Roth Capital boosted their price objective on WhiteFiber from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Wall Street Zen downgraded WhiteFiber from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Finally, Macquarie boosted their price objective on WhiteFiber from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.17.

WhiteFiber Trading Down 7.4%

WhiteFiber Company Profile

We believe we are a leading provider of artificial intelligence (“AI”) infrastructure solutions. We own high-performance computing (“HPC”) data centers and provide cloud-based HPC graphics processing units (“GPU”) services, which we term cloud services, for customers such as AI application and machine learning (“ML”) developers (the “HPC Business”).

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